Cricut (NASDAQ:CRCT) Trading Up 5.2% – Time to Buy?

Cricut, Inc. (NASDAQ:CRCT) shares were up 5.2% on Monday . The company traded as high as $5.47 and last traded at $5.46. Approximately 65,632 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 676,353 shares. The stock had previously closed at $5.19.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group reduced their target price on Cricut from $6.50 to $5.75 and set a “neutral” rating on the stock in a report on Wednesday, November 6th.

Cricut Price Performance

The firm’s 50-day moving average price is $6.14 and its 200-day moving average price is $6.11. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 19.39 and a beta of 0.13.

Cricut (NASDAQ:CRCT) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $167.89 million during the quarter, compared to analyst estimates of $165.35 million. Cricut had a net margin of 8.47% and a return on equity of 12.36%. During the same quarter in the prior year, the company posted $0.08 earnings per share. On average, sell-side analysts anticipate that Cricut, Inc. will post 0.28 earnings per share for the current year.

Cricut Announces Dividend

The company also recently disclosed a None dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a yield of 3.4%. Cricut’s dividend payout ratio is currently 71.43%.

Insider Buying and Selling at Cricut

In other news, CEO Arora Ashish sold 54,839 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $5.29, for a total value of $290,098.31. Following the completion of the sale, the chief executive officer now directly owns 3,980,294 shares in the company, valued at approximately $21,055,755.26. The trade was a 1.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald B. Olsen sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $5.23, for a total value of $156,900.00. Following the sale, the executive vice president now directly owns 625,833 shares in the company, valued at approximately $3,273,106.59. This represents a 4.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.02% of the stock is owned by insiders.

Institutional Trading of Cricut

Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC grew its position in shares of Cricut by 366.6% during the 3rd quarter. Barclays PLC now owns 76,440 shares of the company’s stock valued at $529,000 after buying an additional 60,058 shares during the last quarter. Geode Capital Management LLC grew its holdings in Cricut by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,081,319 shares of the company’s stock worth $7,495,000 after buying an additional 9,940 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Cricut in the 3rd quarter worth approximately $168,000. Tenzing Global Management LLC increased its position in shares of Cricut by 4.9% during the 3rd quarter. Tenzing Global Management LLC now owns 2,150,000 shares of the company’s stock valued at $14,900,000 after purchasing an additional 100,000 shares during the period. Finally, State Street Corp raised its holdings in shares of Cricut by 3.2% in the 3rd quarter. State Street Corp now owns 1,019,025 shares of the company’s stock worth $7,062,000 after purchasing an additional 31,584 shares in the last quarter. 19.60% of the stock is owned by institutional investors and hedge funds.

Cricut Company Profile

Cricut, Inc engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates through three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations.